And that sum does not include the potential for additional funding from the program that would come should Long Island's council -- as it has in three out of four contests -- emerge again as a big winner in Gov. Andrew M. Cuomo's competition for capital grants and state tax credits aimed at creating jobs.

In 2011, Cuomo appointed Regional Economic Development Councils to vie with one another for aid.

If the region wins again, that floor could rise to a ceiling of about $105 million, which would bring our total to $905 million.

Add to that another $5 million in state money coming to Long Island to help with the environment.

That would push our state budget funding for Island long-term projects to $910 million, enough -- thanks in large part to state Sen. Dean Skelos (R-Rockville Centre), who pushed through the "transformative" fund -- to round up to that cool billion.

That's a very big deal in a region that, too often, is overlooked by Albany because Long Island's wealth obscures the very real need for infrastructure and other projects.

"While we didn't get a billion from the surplus, we got a billion from the state budget to invest in our infrastructure that will help create temporary and long-term jobs," said Kevin Law, president and CEO of the Long Island Association, the region's largest business organization.

So what comes next?

It's likely that the Long Island Regional Planning Council could be tasked with overseeing the environmental funds, which would be put toward water and related studies.

But the state would do well to funnel the biggest portion of the funding -- for "transformative" projects -- to the Long Island Regional Economic Council.

The council, co-chaired by Hofstra University President Stuart Rabinowitz, has done a masterful job screening and prioritizing local projects for Cuomo's state competition.

The region would do well with the council -- working in conjunction with the region's political, business, higher education and others -- lending some expertise to ensure that the Long Island (almost) billion dollars is well spent.